What changed
$BMY — ADD 📊
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide.
🎯 Q1 FY26 | Rev $11B | EPS $1.58 vs $1.42 🟢
💡 Consensus estimates significantly understate BMY's near-term earnings power and resilience due to overblown patent-cliff and leverage concerns. The Q1 beat and potential pipeline milestones are not fully priced in at 8.8x forward adjusted EPS—a discount to large-cap pharma peers near 12x.
📉 Reward/Risk: 1.7:1
🏢 Business Quality: 6/10 - Diversified global pharma with strong margins (23% net margin) and high R&D investment (23% of sales), but faces generic/biosimilar headwinds and high net debt of $32.6B, which elevates financial risk.
📊 Valuation: cheap - P/E (adj.) 8.8x vs.
Also in play: $PFE $MRK $JNJ $ABBV $LLY $CNC
Why it matters
Bristol-Myers Squibb Company discovers, develops, licenses, manufactures, markets, distributes, and sells biopharmaceutical products worldwide.